A contemporary, one-bedroom oasis in South Beach
1
Beds
|
1.5
Bathrooms
Home
Condo Hotel
Condo
Hotel Residence
Floors
634
Square Feet
About
This sky-high perch overlooks the sandy shores of the world-famous South Beach. Part of the Residences at W South Beach, which was recently part of a $20 million renovation, you’ll enjoy all the same amenities as guests of the hotel—access to a beachside restaurant, tennis and basketball courts, and a heated outdoor—while maintaining your independence in the privacy of your own home. At this one-bedroom condominium, you can enjoy expansive ocean and city views from your two private balconies and be within easy walking distance to some of Miami’s top nightclubs and restaurants. When you’re not able to visit your new Miami home, you can easily rent out your unused days and make a profit.
What you pay
$189,966 / fraction
The purchase price is 1/8th of the exact price at which we bought the property.
Purchase Price
$161,875
Whole Home Purchase Price:
$1,295,000
Closing costs include legal fees, taxes, notary fees, bank fees, and property appraisal fees, amongst others. They are passed through to Kocomo owners on a dollar-for-dollar basis and may vary from property to property, but will typically be between 3-4% of the listing price.
Closing Costs
$4,856
Upgrade Costs include paintwork, finishes, furniture, artwork, and other elements of interior design required to deliver a turn-key home. These typically range from 0% to 5% of the home purchase price, and are passed through to owners at cost.
Upgrade Costs
$3,000
The Kocomo Service Fee is 12.5% of the purchase price of the property. This fee enables us to provide a seamless and delightful co-ownership experience, and covers a variety of value-added services such as: Home search and negotiation and co-owner vetting and aggregation.
Kocomo Service Fee
$20,234
$640 / month
Operating expenses include taxes, insurance, utilities, cleaning services, and preventive maintenance, amongst others. All the co-owners will share these expenses on a proportional basis. These are passed through at cost.
Operating Expenses
$540
Kocomo charges a monthly platform fee of $100 USD per co-owner. This fee enables us to provide high-touch property administration and management services, ensuring a world-class experience for our owners.
Kocomo Platform Fee
$100
What you get
Every Kocomo home is purchased by a property-specific LLC. This is the % of the LLC that you will be an owner of.
Home Ownership
12.5%
The % of the home that you will be an owner ofWeeks/Year: Total weeks of use you get per year at the owner of 12.5% of the home
Use Time / Year
6 weeks
This is the ADR (Average Daily Rate) that this property is rented for. If you decide to rent your time at the home you won’t use, you can expect to get this rate per night. The exact rate will be determined by the market and will vary depending on season and occupancy. Also, be mindful of the fact that you will have to pay income tax and a commission to the rental agency partner.
Rental Income
$500
/ night
